Infosys hires law firm to investigate charges on CEO

IT major Infosys has hired law firm Shardul Amarchand Mangaldas & Co, to conduct ‘independent investigation’ on whistleblower charges against the company’s CEO Salil Parekh.

“The Audit Committee has now retained the law firm of Shardul Amarchand Mangaldas & Co. (October 21, 2019), to conduct an independent investigation. The Board, in consultation with the Audit Committee, will take such steps as may be appropriate based on the outcome of the investigation,” company’s Chairman Nandan Nilekani said in a statement.

Also read — Whistleblowers sting Infosys; ADRs tank

He also said that post the Board Meeting of October 11, 2019 the Audit Committee began consultation with the independent internal auditors (Ernst &Young) on terms of reference for their prima facie investigation about the letter.

Also read — Infosys CEO Parekh faces financial fudging allegations

The statement also says that the complaints were placed before the board on the result day. However, on the result day, company did not talk about it in any of its disclosures to the media or exchanges.